Know major announcements made at Reliance Industries 42nd AGM

Know various announcements made at Reliance Industries' 42nd annual general meeting.

Mumbai: Mukesh Ambani has announced to launch Jio Fibre services commercially across India starting 5th September.

Several announcements at Reliance Industries' 42nd annual general meeting is as follows:

• Saudi Aramco to take 20 pc stake in Reliance's oil-to-chemical business for an enterprise value of USD 75 billion. This is the biggest foreign investment in the history of Reliance
• Reliance to get Rs 7,000 crore by selling 49% stake in its fuel retail business to BP
• Launch of Jio Fibre services commercially across India starting 5th September
• Jio Fibre tariff plan to start from Rs 700 per month
• Voice calls from Jio Fibre fixed line phones to anywhere in the country will be free for life
• 80% cost of running a start-up goes towards cloud&connectivity infrastructure. Jio is ready to take away that cost by making cloud and connectivity infrastructure absolutely free for start-ups. Start this service from 1 January 2020
• Jio enters into a long-term alliance with Microsoft to accelerate digital transformation of India, launch new cloud data centres
• Ambani announces Internet of Things for the entire country, home and enterprise broadband, broadband for SME
• Investment cycle of Reliance Jio is complete; about Rs 3.5 lakh cr invested in high-speed 4G network
• Reliance to be a zero-debt company within 18 months
• Reliance to induct partners, list retail and telecom business
• Several announcements for J-K, Ladakh in coming months
• Company's retail arm will soon unveil Reliance New Commerce, an initiative to digitally connect kirana stores across the country. The company is committed to support the developmental needs of the new Union Territories of Jammu and Kashmir and Ladakh and that it will create a task force to explore investment opportunities in region.